This story was written by Staci D. Kramer.Time.com is reporting that Marcus Brauchli, the last Journal managing editor appointed under Dow Jones (NYSE: NWS) ownership, plans to leave the paper one year after he took the joband four months after News Corp took over. WSJ.com has posted its own version, attributed to its own source but noting the earlier report. His resignation and the announcement could come as early as Tuesday morning.

Brauchli's departure could be the first real test of the editorial independence committee appointed as part of the News Corp acquisition. The committee is supposed to approve Brauchli's successor.

Time: "The separation is said to be amicable and Brauchli is likely to stay with the company in a yet-to-be-determined capacity. One source says a search is already underway for the next managing editor."